A low credit score or lack of credit history should not stop you from getting loans. SimpleDirect can help. Our experts at SimpleDirect work with world-class lenders to help borrowers with low credit scores get a well-suited personal loan with ease.
No Credit Check Loans are loans that you can receive without any preliminary credit checks performed by the lender. Traditional banks and lenders review the borrower’s credit score to determine eligibility for loans and more importantly, determining the interest rates on the loan.
Low credit scores are unfortunately a primary reason behind many loan request rejections. Traditional lenders have a tier system with credit scores, and the lower the credit score, the riskier the borrower is deemed. A standard credit score tier system is as follows:
|Credit Score Range||How’s Your Credit Score?|
If your score falls under the “Fair” or “Bad” bracket, then you may want to apply for a loan with no credit check.
|No Impact on Score||Higher Interest Rates|
|Fast Approval Process||May encourage risky/reckless borrowing|
Loans with no credit checks are not much different from other loans. Our experts at SimpleDirect can help you take out a No Credit Check Loan with ease. In case of loans with no credit checks, expect your interest rate to be on the higher end of the scale. SimpleDirect is partnered with many lenders and can help you get the lowest rate loans!
Tips to Consider While Applying for Loans with No Credit Checks
Things to Expect from a Loan with No Credit Checks